DCA News Blog
Scan to Archive versus Capture to Process
Posted on 2/8/2011
There are several components to consider when cost justifying a conversion project. Beyond traditional scanning to archive for disaster recovery planning, the greatest benefit of scanning is realized when capture technology is utilized to improve core business processes. Still, AIIM's latest research reveals that only 15% of users scan to drive a process. The vast majority continue to scan only to archive their information.
Today’s capture technologies provide a complete solution for scanning documents at the front end of a process. Critical data is extracted from documents, and transformed into useful information to drive the process. Information may also be routed to multiple departments and functions in various electronic formats.
Capturing information at the start of a business process allows organizations to manage critical information while reducing manual labor costs such as data entry, sorting, filing, storage and shipping. Capture technology also helps improve efficiencies of core business functions and enhances data quality throughout the organization.
Accounts Payable is a prime example of a process that can generate a quick ROI from imaging. For more on this topic, please read our blog: New Aberdeen Research Shows AP Automation Pays Off .
DCA can help your organization determine the best solution for your business. With over 20 years of experience, DCA has earned a reputation as an industry leader in developing end-to-end content management solutions across all industries. For more information, please contact DCA at (908) 735-0393 or contact us online.
Tags:
business process automation
document capture
archive
workflow
accounts payable
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New Aberdeen Research Shows AP Automation Pays Off
Posted on 11/16/2010
Accounts Payable is gaining more and more momentum as a strategic function within enterprises. With pressures to increase visibility, compliance and efficiency while cutting costs, many have taken advantage of technology to streamline AP processes.
The Aberdeen Group recently conducted a study of over 150 companies to uncover best practices in Accounts Payable among the top performers. They discovered that the cost to process an invoice for the average enterprise was almost four times the cost of those classified as best-in-class enterprises. Additionally, it took almost four times longer. So what are the best-in-class doing to set themselves apart?
As a starting point, the participants identified a need to evaluate current AP operations to eliminate bottlenecks and standardize a set of best practices for the receipt and workflow of invoices. It is important to quantify the associated time and cost to manually process paper invoices and to reallocate these resources to areas of more strategic value. This upfront effort will lay the groundwork for smoother automation implementation down the line.
Document capture and workflow technologies with automated approval routing have proven a significant ROI by reducing cycle times, lowering transaction processing costs and eliminating manual data entry. This enables AP staff to better manage supplier relationships by eliminating potential errors and providing real time tracking of invoices in the procure-to-pay cycle. Choosing the right technology not only addresses performance goals, it also enables finance managers to monitor organizational performance for financial reporting and budgeting. To complete the solution, it is important to tightly integrate AP processes with existing ERP systems.
For more information on how AP automation solutions can add strategic value to your organization, please contact DCA.
Tags:
accounts payable
workflow
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